Kits-n-bits Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 04959227 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 30 NOVEMBER 2015

FOR

KITS-N-BITS LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

N J Millar

Mrs C E Millar

SECRETARY:

Mrs C E Millar

REGISTERED OFFICE:

39E Vale Business Park

Llandow

Cowbridge

Vale of Glamorgan

CF71 7PF

REGISTERED NUMBER:

04959227 (England and Wales)

ACCOUNTANTS:

DAVID WRIGHT ACCOUNTANTS LIMITED

1st Floor

Nathaniel House

David Street

Bridgend

South Wales

CF31 3SA

FIXED ASSETS

Tangible assets

2

52,809

30,952

CURRENT ASSETS

Stocks

32,500

30,836

Debtors

55,398

52,280

Cash at bank

136,420

98,437

224,318

181,553

CREDITORS

Amounts falling due within one year

101,804

67,204

NET CURRENT ASSETS

122,514

114,349

TOTAL ASSETS LESS CURRENT
LIABILITIES

175,323

145,301

CREDITORS

Amounts falling due after more than one
year

18,311

-

NET ASSETS

157,012

145,301

CAPITAL AND RESERVES

Called up share capital

3

100

Profit and loss account

156,912

145,201

SHAREHOLDERS' FUNDS

157,012

145,301

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2015 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as
at the end of each financial year and of its profit or loss for each financial year in accordance with the
requirements of Sections 394 and 395 and which otherwise comply with the requirements of the
Companies Act 2006 relating to financial statements, so far as applicable to the company.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 10 August 2016 and were signed on its
behalf by:

Mrs C E Millar - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance

with the Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

33% on cost, 25% on cost and 25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for

obsolete and slow moving items.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at

the balance sheet date.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the

company's pension scheme are charged to the profit and loss account in the period to which they

relate.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 December 2014

57,170

Additions

30,764

At 30 November 2015

87,934

DEPRECIATION

At 1 December 2014

26,218

Charge for year

8,907

At 30 November 2015

35,125

NET BOOK VALUE

At 30 November 2015

52,809

At 30 November 2014

30,952

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30/11/15

30/11/14

value:

£

100

Ordinary

£1

100